Mr Green hails new launches as revenue climbs in 2016
Mr Green has cited the launch of its new sportsbook and live casino services, as well as enhanced communications with customers, as some of the key reasons behind revenue growth in 2016.
Revenue for the 12 months to December 31, 2016, totalled SEK924.5 million (€97.6 million/$103.6 million), an increase of 16.5% on the previous year.
However, earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring items dropped from SEK136.8 million to SEK91.4 million, with a reduced margin of 10%.
Mr Green also revealed a positive performance in the final quarter of the year, during which revenue jumped 32% year-on-year to SEK265 million, while EBITDA before non-recurring items was also up from SEK29 million to SEK31.9 million.
Per Norman, chief executive of Mr Green, said: “The final quarter was one of our strongest ever quarters with revenue growth of 32 per cent year-on-year.
“Also this quarter, the number of active customers and customer deposits were at a record-breaking high, and we can thus conclude that our new Mr Green 2.0 business strategy is starting to generate results.
“During the year, we launched both a sportsbook and new live casino, which were well received by our customers and have performed according to plan.
“We also started to develop our customer communication to personalise it more, which is one of the reasons for our strong growth.
“Our medium-term target is to achieve an annual average growth rate of 20% and an EBITDA margin of 20%.
“In the long-term, annual organic growth is to outperform the online gaming market and the EBITDA margin is to be 15%, assuming 100% of revenue is generated in locally regulated markets with betting duties.
“With our clear business strategy and scalable business model, combined with an intense focus on efficiency, we will achieve these financial targets and create shareholder value.”
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